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Producer Manufacturing

Topy Industries, Ltd.

Business Summary

Topy Industries, Ltd. engages in the manufacture and sale of steel products, and automotive and construction machinery components. It operates through the following business segments: Steel, Automotive and Industrial Machinery Components, Power Generation and Others. The Steel segment includes general steel, deformed bars, flat bars, mast rail sections for forklifts, and universal mill plates with grooves. The Automotive and Industrial Machinery Components segment produces wheels for automotive, industrial, and construction use, press products, fasteners for industrial use, and products for construction machinery. The Power Generation segment generates electricity through coal-powered facilities. The Others segment includes wholesale power supplies, indoor and outdoor sign systems, synthetic micas, crawler robots and management of real estate leases and construction. The company was founded in October 1921 and is headquartered in Tokyo, Japan.

Financial Highlights

Mar 2023 JPYUSD
Gross Profit44,616M329.22M
Operating income7,176M52.95M
Income before tax7,421M54.76M
Net income6,321M46.64M
Diluted EPS276.492.04
Dividends Per Share880.64
Total Assets292,322M2,196.42M
Total liabilities170,892M1,284.03M
Total equity120,266M903.64M
Operating cash flow15,058M111.11M
Currency in JPYCurrency in USD

Historical Data

 Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Revenue 286,227M 263,305M 225,121M 271,178M 334,496M
Gross Profit 42,119M 36,060M 26,803M 31,056M 44,616M
Operating income 7,506M 2,852M -2,943M -1,706M 7,176M
Income before tax 10,345M 1,741M 856M 1,790M 7,421M
Net income 7,114M -4,496M 579M 387M 6,321M
EBITDA 18,709M 15,308M 9,696M 11,193M 20,595M
Diluted EPS 302.85 -191.41 24.66 16.58 276.49
Dividends Per Share 90 40 20 20 88
Total Assets 284,198M 254,659M 264,672M 282,195M 292,322M
Total liabilities 171,830M 150,852M 156,281M 168,488M 170,892M
Total equity 111,305M 102,732M 107,428M 112,658M 120,266M
Operating cash flow 11,725M 16,206M 5,730M -5,528M 15,058M
 Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Revenue 2,581.07M 2,421.73M 2,122.63M 2,413.20M 2,468.28M
Gross Profit 379.81M 331.66M 252.72M 276.36M 329.22M
Operating income 67.68M 26.23M -27.74M -15.18M 52.95M
Income before tax 93.28M 16.01M 8.07M 15.92M 54.76M
Net income 64.15M -41.35M 5.45M 3.44M 46.64M
EBITDA 168.70M 140.79M 91.42M 99.60M 151.97M
Diluted EPS 2.73 -1.76 0.23 0.14 2.04
Dividends Per Share 0.81 0.36 0.18 0.17 0.64
Total Assets 2,567.62M 2,358.93M 2,395.22M 2,324.98M 2,196.42M
Total liabilities 1,552.42M 1,397.35M 1,414.30M 1,388.16M 1,284.03M
Total equity 1,005.60M 951.61M 972.19M 928.18M 903.64M
Operating cash flow 105.73M 149.05M 54.02M -49.19M 111.11M

Valuation Measures

Mar 2023
Operating margin2.14%
Profit margin1.88%

Key executives

  • President, Representative Director & Head-Sales: Nobuhiko Takamatsu
  • Director, Executive Vice President & Head-Finance: Shinichi Kijima
  • Senior Managing Director & Head-Technology: Masayoshi Takezawa
  • Managing Executive Officer & Technology Manager: Masahiro Abe
  • Executive Officer & Manager-Internal Audit: Takanori Kawano


  • NIPPON STEEL CORP. (20.0%)
  • Topy Industries, Ltd. (5.0%)
  • Topy Fund Business Association (4.4%)
  • Mizuho Financial Group, Inc. (4.1%)
  • Meiji Yasuda Life Insurance Co. (4.0%)
  • Topy Industries Employee Stock Ownership Plan (3.0%)
  • Dimensional Fund Advisors LP (2.1%)
  • Nomura Asset Management Co., Ltd. (1.9%)
  • The Vanguard Group, Inc. (1.9%)
  • Resona Holdings, Inc. (1.7%)

Contact Details

  • Website:
  • Address: Art Village Osaki Central Tower, 1-2-2 Osaki, Tokyo, 141-8634, Japan
  • Phone: +81.3.3493.0777

Related Companies

  • Topy Industries Board Incentive Plan
  • TEC-SAN Co. Ltd.
  • PT Topy Palingda Manufacturing Indonesia
  • Topy Enterprises (Dalian F.T.Z.) Co. Ltd.
  • PT Topy Undercarriage Indonesia
  • Topy Fasteners Vietnam Co. Ltd.
  • Topy MW Manufacturing Mexico S.A. DE C.V.
  • Tianjin Topy Machinery Co. Ltd.
  • Topy Undercarriage (China) Co., Ltd.
  • Qingdao Topy Machinery Co., Ltd.
  • Topy Industries Pension Fund
  • Fujian Topy Autoparts Ltd.
  • Kyushu Wheel Kogyo Ltd.
  • N.E. Tojitsu Ltd.
  • Autopia Co., Ltd. (Japan)
  • Topyrec Co. Ltd.
  • Akemi Recycle Center Corp.
  • Ring Techs Co., Ltd.
  • Tojitsu Ltd.
  • Topy Tekko KK
  • Akemi Electric Power Ltd.
  • Sanwa Buhin Co. Ltd.
  • Topy Marine TransportLtd
  • Topy FastenersLtd
  • Topy Agency Ltd.
  • Topy Fasteners Thailand Ltd.
  • Topy America, Inc.
  • Topy Marine Transport Ltd.
  • Topy Enterprises Ltd.
  • Yuan Shing Fujian Autoparts Co.


  • Iochpe Maxion S.A.
  • thyssenkrupp AG
  • Titan International, Inc.
  • Xiamen Sunrise Group Co. Ltd. Class A
Last Updated on 31 May, 2023

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